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News2017-12-17T01:36:45+00:00

Geldzug: BANKS FY2019 – THE PAIN GOES ON AND ON

22 September 2019 The banking sector has underperformed the Australian market since 2015, and the results for the year to 30 September 2019 suggests that another year or two of underperformance is still to come. The latest results were dismal. Cash profits fell by 7.8% ($2.9bn) year-on-year. Revenue growth was minimal to negative as the big banks lost market share [...]

By |November 22nd, 2019|Categories: 2019, Geld Zug|Comments Off on Geldzug: BANKS FY2019 – THE PAIN GOES ON AND ON

Geldzug: BREXIT FROM A EUROPEAN VIEWPOINT

23 November 2019 In the wake of the GFC, and again after the June 2016 Brexit referendum, many fund managers left the City of London for European shores, in search of lower tax rates and less regulation, not to mention the fear that Brexit would cut them off from their clients’ money. But most of the English fund managers who [...]

By |November 22nd, 2019|Categories: 2019, Geld Zug|Comments Off on Geldzug: BREXIT FROM A EUROPEAN VIEWPOINT

Geldzug: BANK RUNS IN CHINA

5th November 2019 In February this year, we outlined the risks of a financial crisis in China. (Published as one of our Geld Zug commentary articles: http://arminiuscapital.com.au/preparing-for-the-china-crisis/). One of the triggers for a financial crisis was a rash of problems among China’s small banks. This trigger may be taking shape right now. Another small bank suffered a run last week, [...]

By |November 4th, 2019|Categories: 2019, Geld Zug|Comments Off on Geldzug: BANK RUNS IN CHINA

Geldzug: RECESSION O’CLOCK, AUSTRALIA?

4th October 2019 The biggest drivers of GDP growth in Australia are “houses and holes”, i.e. residential construction and resource exports. Residential construction is driven by factors internal to the Australian economy, whereas resource exports depend on the growth of the major global economies, particularly China. House prices and housing starts have been falling since early 2018, but there are [...]

By |October 10th, 2019|Categories: 2019, Geld Zug|Comments Off on Geldzug: RECESSION O’CLOCK, AUSTRALIA?

Geldzug: THREE SEISMIC TREMORS IN SEPTEMBER

1 October 2019 The financial world was shaken by three seismic tremors during September 2019, but most people only noticed one of them. The First Seismic Tremor The one that everyone noticed was the drone attack on Saudi Arabia’s oil processing plant at Abqaiq on 14 September. The Yemen-based rebels who claimed responsibility have launched more than one hundred drone [...]

By |October 3rd, 2019|Categories: Uncategorized|Comments Off on Geldzug: THREE SEISMIC TREMORS IN SEPTEMBER

Geldzug: COMMONWEALTH BANK’S FY19 RESULT: TRENCH WARFARE AHEAD

12 August 2019 The Commonwealth Bank of Australia (“CBA”) is Australia’s largest bank at $140.6 billion, and the most expensive of the Big Four, in terms of P/E, dividend yield, and price to book ratio. As such, its disappointing result for the year ended 30 June 2019 does not augur well for the other three big banks (who all have [...]

By |August 19th, 2019|Categories: Uncategorized|Comments Off on Geldzug: COMMONWEALTH BANK’S FY19 RESULT: TRENCH WARFARE AHEAD